Japan PM Suga: Decided on state of emergency to turn the tide around for coronavirus infection

Dhwani Mehta FXStreet

The government decided on a state of emergency to turn the tide around for coronavirus infection, Japan’s Prime Minister (PM) Yoshihide Suga said while addressing a news conference after declaring a one-month state of emergency, starting January 8.

Additional comments

To offer a maximum of 1.8 mln yen a month compensation for restaurants, bars that comply with shorter hours.

Japan's jobless rate remains the lowest among major countries.

Will make it priority to protect jobs, help companies sustain the business.

Plan to revise law concerning coronavirus responses to make it possible to implement more. effective anti-prevention measures.

Will take every measure to support medical system, including use of military if needed.

Unavoidable for the state of emergency to hurt the economy.

Hope to protect jobs, businesses with stimulus package already rolled out.

Determination to host Olympics unchanged.

In order to host the Olympics, taking firm measures now against coronavirus is essential.

USD/JPY challenging highs near 103.50

Amid Japan’s state of emergency declaration and surging US Treasury yields, USD/JPY gains 0.40% on the day to trade at 103.44, fresh six-day tops.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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